Weatherford International (NYSE:WFT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Weatherford is among the top players in each of its product/service categories, and is present in most major hydrocarbon-producing regions of the world. The company enjoys very strong relationships with both publicly traded and national oil companies worldwide. Weatherford is aligning its organizational structure to keep up with the changing market conditions which, in turn, should greatly aid the financials. However, the oilfield service player’s debt-heavy balance sheet is a cause of concern. It can restrict the company’s financing opportunities. Moreover, with the prevailing weaknesses in oil pricing scenario, producers are getting conservative to set capital budget for 2019, which has created uncertainties for the Weatherford’s business.”
WFT has been the topic of a number of other reports. Wells Fargo & Co downgraded shares of Weatherford International from an “outperform” rating to a “market perform” rating and set a $2.00 price objective on the stock. in a research note on Tuesday, December 11th. Raymond James downgraded shares of Weatherford International from an “outperform” rating to a “market perform” rating in a research note on Friday, November 16th. Credit Suisse Group restated a “buy” rating and issued a $1.00 target price on shares of Weatherford International in a research note on Sunday, February 3rd. JPMorgan Chase & Co. downgraded shares of Weatherford International from an “overweight” rating to a “neutral” rating in a research note on Tuesday, December 11th. Finally, Griffin Securities restated a “buy” rating on shares of Weatherford International in a research note on Wednesday, February 27th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $2.07.
NYSE WFT opened at $0.74 on Wednesday. Weatherford International has a 52-week low of $0.22 and a 52-week high of $3.75. The company has a market cap of $722.25 million, a PE ratio of -1.25 and a beta of 2.20.
Weatherford International (NYSE:WFT) last released its quarterly earnings data on Friday, February 1st. The oil and gas company reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.02). The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the previous year, the company posted ($0.33) EPS. On average, analysts predict that Weatherford International will post -0.36 EPS for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Jaffetilchin Investment Partners LLC purchased a new position in shares of Weatherford International in the fourth quarter worth $26,000. HRT Financial LLC raised its holdings in shares of Weatherford International by 30.5% in the fourth quarter. HRT Financial LLC now owns 51,028 shares of the oil and gas company’s stock worth $28,000 after buying an additional 11,936 shares during the last quarter. Exane Derivatives raised its holdings in shares of Weatherford International by 422.3% in the fourth quarter. Exane Derivatives now owns 54,093 shares of the oil and gas company’s stock worth $30,000 after buying an additional 43,736 shares during the last quarter. Western Wealth Management LLC purchased a new position in shares of Weatherford International in the fourth quarter worth $37,000. Finally, Private Advisor Group LLC raised its holdings in shares of Weatherford International by 86.6% in the fourth quarter. Private Advisor Group LLC now owns 119,523 shares of the oil and gas company’s stock worth $67,000 after buying an additional 55,474 shares during the last quarter. Institutional investors own 86.09% of the company’s stock.
Weatherford International Company Profile
Weatherford International plc operates as a multinational oilfield service company worldwide. It offers equipment and services used in the drilling, evaluation, completion, production, and intervention of oil and natural gas wells. The company operates in two segments, Western Hemisphere and Eastern Hemisphere.
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